FX.co ★ US Futures Edge Higher to Start November

U.S. stocks experienced an uptick on Monday as trading commenced for November, following a sustained seven-month rally for the tech-centric Nasdaq Composite. In October, the Dow Jones Industrial Average rose by 2.51%, the S&P 500 recorded a 2.27% increase, and the Nasdaq Composite surged by 4.7%. These gains were predominantly fueled by ongoing advancements in artificial intelligence, easing trade tensions between the U.S. and China, and the latest interest rate cut by the Federal Reserve. A robust earnings season contributed to positive sentiment, with over 80% of S&P 500 companies that have reported quarterly results so far surpassing expectations. Investors are now looking forward to upcoming earnings announcements from major corporations such as Berkshire Hathaway, Palantir, AMD, Uber, and McDonald’s later this week. Meanwhile, the extended U.S. government shutdown continues to delay the publication of vital economic data, including the monthly employment report. On the trade front, the White House announced over the weekend that China will halt additional export controls on rare earth elements and cease investigations into U.S. semiconductor firms.